Mark Zuckerberg is synonymous with Facebook and at the age of 36, the young CEO has amassed a huge fortune.
The tech mogul sometimes faces harsh criticism about his company’s policies and politics, but that doesn’t affect his earnings. Zuckerberg’s growing wealth recently put him on a new list of exclusive rights to only two other people on Earth.
Mark Zuckerberg is currently a member of the elite billionaire club
And most of the world knows that Zuckerberg, the co-founder of Facebook, has a staggering net worth. In January 2020, that number ranged between $ 80 billion and $ 98 billion due to changes in the stock market. But that doesn’t change the fact that he’s been a self-made billionaire since 2008.
He was only 23 years old and joined artists like Oprah Winfrey, Carlos Slim, Jeff Bezos and George Lucas. As of August 6, Zuckerberg’s fortune has exceeded $ 100 billion, making him a billionaire, according to Bloomberg.
He shares that space with fellow tech entrepreneurs Bezos and Bill Gates and is the youngest member of this unique gang.
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How Mark Zuckerberg became a billionaire
The term dollar billionaire isn’t often seen, a sign that it’s a tough feat to achieve. Zuckerberg is indebted to that thanks to the new Instagram add that launched on Aug. 5 In response to news that TikTok is facing a probable ban in the US, Facebook-owned Instagram has rolled out Reels globally. .
The latest feature on the popular application allows users to create a short 15 second video with special effects and music.
While there is information on whether Reels beat TikTok’s usage of influencers and other users, it raised Facebook’s stock price at launch and thus the asset Zuckerberg’s $ 5.3 billion in just a few days.
Bloomberg reports that Zuckerberg owns a 13% stake in Facebook and that since the beginning of the year, his fortune has grown by about $ 22 billion. His status may increase or decrease depending on the stock price and the success of Reels. Bezos is still the richest person on the planet.
Zuckerberg shares his wealth through charity
Zuckerberg and his wife Priscilla Chan continue to provide charitable aid through their Chan Zuckerberg Initiative. Since March, they have funded more than $ 50 million in coronavirus research and relief, and have partnered with the Gates Foundation to research treatment options.
Also, in May, Zuckerberg and Chan got noticed after donating $ 800,000 to eight local restaurants in the Bay Area to keep them alive while COVID-19 was locked.
Back in 2015, the couple announced their intention to give away a 99% stake in Facebook during their lifetime. In an open letter to their daughter Max, Chan and Zuckerberg pledged to invest a portion of this fortune to support learning, healing, science, community building and equality.
To date, the couple’s fund has raised more than $ 2 billion since inception. For now, Instagram is helping Zuckerberg and Facebook maintain their popularity in social media, but if Reels catches up with content creators and casual users, Zuckerberg’s net worth could increase. come back.